His hedge fund is one of the largest investors in Harbinger Group. It would, however, would permit Falcone to remain CEO of Harbinger Group, which has been acquiring stakes in insurance-related businesses. While the dollar amount involved in the preliminary settlement is relatively small, the ban on new fundraising means Falcone will have to continue winding down his hedge fund. The settlement would also include the payment of $18 million. Securities and Exchange Commission was disclosed in a filing by Harbinger Group Inc HRG.N, the publicly traded investment company of which Falcone is chairman and chief executive. The agreement by Falcone and his hedge fund, Harbinger Capital Partners, to settle two lawsuits brought by the U.S. NEW YORK (Reuters) - One-time star money manager Philip Falcone will be barred from starting another hedge fund for two years as he winds down his existing fund and returns money to investors, under a preliminary deal with securities regulators to settle fraud and other charges that was made public on Thursday.
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